NY A00189

Changes oversight language from permissive ("may") to mandatory ("shall") for state commissioners and supervising agencies when limited profit housing companies violate laws, orders, or act against public interest

Requires commissioners or supervising agencies to take necessary and proper steps to effect available remedies when housing companies fail to meet legal obligations or act prejudicially toward the public, lienholders, stockholders, or tenants

Maintains existing authority to commence legal proceedings in New York Supreme Court, including the ability to seek injunctions and appoint temporary or permanent receivers

Preserves expedited court process requiring companies to respond within 20 days of petition service, with courts authorized to proceed without formal pleadings or technical requirements

Takes effect immediately upon passage